Bell now offers up to 48-month device financing with its priciest plans

Last year, Bell launched its ‘Flex Option’ financing program, and now the company is expanding Flex Option with some new features for customers who subscribe to its most expensive plans.

Flex Option, for those unfamiliar, is a program that ties into Bell’s device financing and device return programs. When customers finance a phone from Bell, they can choose to finance the full cost over 24 months, or take a lower monthly financing cost if they agree to return the phone at the end of the term (or pay the difference to keep it).

As an example, a $1,000 phone might cost around $41.70/mo financing, or $30/mo, and you can return the phone or pay the remaining $280 to keep it. But with Flex Option, Bell allows customers to start a second financing term for the remaining amount — in our $1,000 example, that remaining $280 would be split into 12 payments of about $23.40/mo.

Now, Bell’s Flex Option includes some new features. Customers who subscribe to one of Bell’s ‘Ultra’ wireless plans — which start at $100/mo before promotional credits — can split the second term over 24 months instead of 12. Along with that, Ultra plan subscribers can defer a larger amount of the cost of select devices (though Bell says the deferred amount is the same for most phones).

A chart from Bell’s website showing the differences between Flex Option with select plans.

In an example shared on Bell’s website, the Flex Option with Ultra plans could allow customers to defer up to $720 of a roughly $1,300 phone, compared to $480 with a cheaper ‘Select’ plan. Coupled with the 24-month second term, customers would pay about $30/mo compared to $40/mo for the $480 remainder spread over 12 months.

Worth the longer financing term?

To get a better sense of how Bell’s Flex Option with Ultra plan works, let’s look at some real-world examples, like the recently launched Samsung Galaxy Z Fold 8, which starts at $2,399.99 in Canada.

Bell actually charges $2,905 for the same device, but offers a $649 “device saving credit” when financing, lowering the cost to $2,256 before tax. If you go with the regular financing program, it’s $94/mo for 24 months ($2,256 total).

But with the Ultra Flex Option, financing costs drop to $44/mo for the first 24-month term with a $1,200 deferral amount. At the end of the first term, customers can return the phone, pay the deferral amount, or split it into 24 equal payments, starting a second financing term. The second term would have a financing cost of $50/mo. The total across the 48 months of financing would be the same $2,256 – customers just pay the amount over a longer period of time.

Compare that to Samsung, which offers its own financing program for the Galaxy Z Fold 8, charges $100/mo for 24 months, but doesn’t have longer terms. It’s a higher monthly financing cost, and the total amount paid ($2,400) is actually slightly more than what customers would pay for the same device with Bell.

The real differentiator is actually the wireless plan. Bell’s regular financing agreement has a minimum $80/mo plan, while the carrier’s new Flex Option requires a $100/mo Ultra plan to qualify for the longer second financing term. Meanwhile, Samsung’s financing isn’t tied to any specific carrier or plan, which could make it a more appealing option to people who already have a wireless plan they like.

Ultimately, it all comes down to where customers want to spend their money. Bell’s Flex Option offers a lot of choice, whether that’s using the phone for a couple years and returning it, or spreading the cost over up to four years for a lower monthly spend and getting to keep the device. Either way, it’s great for customers who want a new phone and a premium Bell wireless plan.